Norsat will host a conference call today on November 7, 2012 at 8:30
am Pacific Time (11:30 am Eastern Time) to discuss third quarter and
year-to-date results. To access the conference call, please dial toll –
free 1-888-886-7786 or 416-764-8658. The conference call ID is: ‘Norsat
Investor Call’. Please connect approximately 10 minutes prior to the
beginning of the call to ensure participation. A digital recording and
transcript of the call will be available later today at: http://www.norsat.com/investor-info/conference-call-recordings

Norsat International Inc. (“Norsat” or “the Company”) (TSX: NII and
OTC BB: NSATF), a leading provider of innovative communication
solutions that enable the transmission of data, audio and video for
challenging applications and environments, today reported financial
results for the three and nine months ended September 30, 2012. The
Company serves global customers primarily through three business units:
Sinclair Technologies, Satellite Solutions and Microwave Products. All
financial results are reported in U.S. dollars and have been prepared in
accordance with International Financial Reporting Standards (“IFRS”),
unless otherwise stated.

('000), except per share amounts

Three months ended September 30,

Nine months ended September 30,

2012

2011

Change

2012

2011

Change

Revenue

$

10,997

$

11,298

$

(301)

(3%)

$

31,831

$

28,323

$

3,508

12%

Gross profit

$

4,560

$

5,030

$

(471)

(9%)

$

13,544

$

12,317

$

1,228

10%

Gross profit (%)

41%

45%

(3%)

43%

43%

0%

EBITDA (1)

$

1,659

$

1,813

$

(154)

(8%)

$

3,549

$

3,357

$

192

6%

Net earnings - from continuing operations

$

822

$

1,209

$

(387)

(32%)

$

4,182

$

733

$

3,449

>100%

Net earnings (loss) - from discontinued operations

$

153

$

(106)

$

259

>100%

$

81

$

(102)

$

183

>100%

Net earnings for the period

$

975

$

1,103

$

(128)

(12%)

$

4,263

$

631

$

3,632

>100%

Net earnings per share - basic

$

0.02

$

0.02

$

(0.00)

(11%)

$

0.07

$

0.01

$

0.06

>100%

Net earnings per share - diluted

$

0.02

$

0.02

$

(0.00)

(11%)

$

0.07

$

0.01

$

0.06

>100%

Weighted average common shares outstanding-

#

#

#

#

Basic

58,037

58,351

58,183

57,954

Diluted

58,039

58,380

58,185

58,035

(1) EBITDA is a Non-IFRS Measure that is defined in the 2011
Annual Management’s Discussion and Analysis posted on Norsat’s
website and SEDAR.

Norsat’s Satellite
Locator application for iPhone on the App Store was released on
July 26, 2012 The application, available as a free download, enables
users to locate geostationary satellites on a mobile phone from
anywhere on the planet, and can be used to assess obstructions and
assist in pointing satellite ground terminals, including Norsat’s
ultra-portable GLOBETrekker™
and Rover™
systems.

Norsat was named a finalist for the Business Without Borders HSBC
International Business Awards.

“Our results were driven by strong revenue performance from the Sinclair
Technologies and Microwave Products segments,” said Dr. Amiee Chan,
Norsat’s President and CEO.

“Demand was especially strong for our full range of Sinclair antenna and
RF conditioning products, with this division continuing to perform above
expectations. Our Microwave Products segment also posted significant
gains during the quarter, reflecting increased demand for our products,
including our customized Ka and Ku-band receivers,” said Dr. Chan.

“Results from our Satellite Solutions segment were not as strong as a
year ago, reflecting the completion of two large contracts that
contributed higher-than-normal revenues and margins in Q3 2011. While we
anticipated the return to more typical results from this segment, we
also note that competitive conditions within the satellite solutions
market have increased as US military spending slows.”

“Going forward, we will continue to pursue our strategy of diversifying
both our products and end-markets to reduce our reliance on any one
customer or market,” added Dr. Chan. “Our acquisition of Sinclair
Technologies has been very successful in expanding our presence in the
commercial sector, particularly with public safety and transportation
customers. Going forward, we see opportunities to continue growing
Sinclair’s business, particularly with existing customers who have a
high appreciation for the reliability of Sinclair products and are
turning to us for new products. In other parts of our business, we are
continuing to pursue opportunities with military customers outside of
the US and targeting an expanded range of end-markets including the
commercial, resource, transportation and public safety sectors. We also
continually evaluate strategic opportunities that will improve our
overall operating and financial performance,” said Dr. Chan.

Financial Review

For the three months ended September, 2012

For the three months ended September 30, 2012, Norsat recorded total
sales of $11.0 million, compared to $11.3 million in Q3 2011.

Sales from the Sinclair Technologies segment improved 11% to $6.0
million from $5.4 million during the same period in 2011, reflecting
strong market demand. Third quarter sales of Microwave Products
increased by 8% to $2.7 million, from $2.5 million in 2011. The $0.2
million increase was partially driven by increased demand for Norsat’s
products, including Ku-band and customized Ka-band receivers. Norsat
continues to benefit from its widely recognized reputation within the
microwave communications market.

Satellite Solutions sales, which now include our Maritime antenna sales,
declined to $2.4 million, from $3.4 million in Q3 2011. This change
reflects the completion of the equipment portion of the contract for the
First Nations’ Emergency Security Society (FNESS) and the completion of
a service contract with NATO, both of which benefited last year’s
results. In addition, equipment and services sales to the US military
were lower than in Q3 2011. There were no Maritime antenna sales in the
third quarter, compared to $0.2 million the same period last year.

On a consolidated basis, Norsat’s third quarter gross margin percentages
declined to 41%, from 45%. Gross profit margins from the Sinclair
Technologies segment returned to a more typical 41% in Q3 2012, from the
47% achieved in Q3 2011. Margins from this segment were higher than
normal last year, primarily reflecting the release of an inventory
provision (approximately $0.3 million, or 5% gross profit equivalent) as
conditions were no longer present that required the provision.

Gross profit margins from the Microwave Products segment increased to
44% in Q3 2012, from 40% during the same period last year. This
improvement reflects the sale of higher-margin customized products.
Third quarter gross profit margins from the Satellite Solutions segment
declined year-over-year to 40%, from 43% in Q3 2011. This decrease was
anticipated and reflects lower selling prices for some existing product
lines, as well as the absence of higher-margin equipment sales
associated with the FNESS contract. Also, gross margins were lower due
to lower proportion of high-margin service revenues.

For the three months ended September 30, 2012, total expenses increased
to $3.8 million from $3.2 million in Q3 2011 as the Company continued to
invest in its sales channels. Third quarter selling and distributing
expenses increased to $2.0 million from $1.4 million, reflecting
investments in additional sales and marketing resources, including $0.2
million for the launch of the new Norsat Power segment. Sales
commissions and bonuses were also higher year-over-year as a result of
year-to-date improvement in financial performance. General and
administrative expenses decreased to $1.0 million from $1.7 million last
year, reflecting the absence of approximately $0.6 million in bonus
accrual for the former president of Sinclair. The balance of the
decrease reflects lower employee costs.

Third quarter net product development expenses declined by $0.2 million,
to $0.3 million, reflecting a higher-than-expected recovery from
government contributions. Gross product development expenses were
consistent with last year at $0.6 million, reflecting the Company’s
commitment to ongoing product development activities.

EBITDA for the three months ended September 30, 2012 was lower by 8% at
$1.7 million, compared to $1.8 million the same period last year.
Reduced gross profit contribution of $0.5 million from the Satellite
Systems segment and a $0.1 million reduction in gross profit
contribution from Sinclair Technologies where offset by reduced
operating expenses and $0.2 million increase in gross profit from the
Microwave Products segment.

Earnings before income taxes decreased to $0.7 million from $1.8 million
during Q3 2011, primarily reflecting an unfavourable foreign exchange
movement of approximately $1.0 million.

Third quarter net earnings from continuing operations declined by $0.4
million to $0.8 million, reflecting the $1.0 million negative foreign
exchange impact, partially offset by a $0.6 million reduction in net tax
expense resulting from the Company’s recent legal reorganization.

During the third quarter, the Company sold its maritime vessel
monitoring unit for £70,000, with related revenues and costs
reclassified to net earnings (loss) from discontinued operations. The
decision to divest the unit was based on the disproportionately high
costs of maintaining this relatively low revenue-generating revenue
business.

Third quarter net earnings were $1.0 million, or $0.02 per share, basic
and diluted, down slightly from $1.1 million, or $0.02 per share, basic
and diluted, during the same period in 2011.

For the nine months ended September 30, 2012

For the nine months ended September 30, 2012, Norsat’s total sales
increased by $3.5 million or 12% to $31.8 million, from $28.3 million
during the same period last year.

The Sinclair Technologies segment was a significant contributor to this
improvement, with sales increasing to $18.5 million, from $15.0 million
last year. These gains reflect the positive impact of nine months
contribution from the Sinclair Technologies segment, compared to just
over eight months contribution last year. Sales from this segment were
also above historical norms, reflecting strong demand, especially in the
public safety and transportation sectors.

Year-to-date sales from Microwave Products increased to $7.1 million,
from $6.1 million during the first nine months of 2011. This gain
reflects higher volumes, as well as the addition of new products
suitable for airborne applications.

CIO, CTO & Developer Resources

Satellite Solutions sales for the first nine months of 2012 decreased to
$6.2 million, from $7.2 million during the same period in 2011. The
change in sales from this segment reflects lower equipment and services
sales to the US military. In addition, Maritime Solutions-related sales
declined by approximately $0.2 million.

On a consolidated basis, Norsat’s year-to-date gross margin percentage
was 43%, on par with the same period last year. Gross profit from the
Microwave Products segment improved to 44% from 42% due to higher demand
for higher margin customized products. Sinclair Technologies maintained
a gross margin percentage of 44%, consistent with the same period last
year. As anticipated, gross profit margins from the Satellite Solutions
segment declined to 38% from 43% in 2011, reflecting lower margins on
the FNESS and NATO contracts, together with lower selling prices for
some existing product lines. Also, gross margins were lower due to lower
proportion of high-margin service revenues.

For the nine months ended September 30, 2012, total expenses increased
to $11.9 million from $10.5 million in 2011. Selling and distributing
expenses increased to $5.7 million from $4.2 million in 2011. This
increase included approximately $0.5 million of costs related to the
launch of the new Norsat Power segment, higher sales commissions and
bonuses, and the added costs of operating the Sinclair Technologies
segment for an extra month in 2012.

General and administrative expenses decreased to $3.8 million, from $4.9
million during the nine months ended September 30, 2011. This reduction
primarily reflects the absence of $0.5 million in acquisition costs
incurred in the first two quarters of 2011 as part of the Sinclair
transaction. The lower G&A expense also reflects savings in
employee-related costs. Partially offsetting these reductions were the
added costs of operating the Sinclair division for one extra month in
the 2012 period.

Net product development expenses increased to $1.6 million from $1.4
million last year, reflecting nine months of Sinclair operations. Direct
expenses increased by $0.4 million year-over-year as a result of
continued investment in research and development of next-generation
product offerings. Increases in direct costs were offset by an
approximately $0.1 million increase in government contributions and a
$0.1 million decrease in amortization costs. Product development
continues to be a core focus for Norsat and is reflected through
development programs in the Sinclair Technologies and Satellite
Solutions business units.

EBITDA for the nine months ended September 30, 2012 improved by $0.2
million or 6% to $3.5 million. This reflects gross profit contribution
increases of $1.4 and $0.5 million, respectively, from the Sinclair
Technologies and Microwave Products segments. These gains were partially
offset by a $0.7 million reduction in gross profit contribution from the
Satellite Solutions segment. Selling and distributing expenses resulting
from investments in sales and marketing resources, including the launch
of Norsat Power, also increased during the period, as did commission and
bonus expenses related to the Company’s improved financial performance.

Nine month earnings before income taxes were $1.7 million, compared to
$1.9 million in the first three quarters of last year. This change was
primarily the result of the positive gross profit contribution of $1.2
million, offset by unfavourable foreign exchange impact of approximately
$1.0 million.

Net earnings from continuing operations increased by $3.5 million
year-over-year to $4.2 million. This primarily reflects a $3.0 million
deferred income tax recovery and a reduction in current tax expenses
related to the Company’s recent legal restructuring. Norsat’s legal
structure was reorganized on June 29, 2012 such that all the assets and
liabilities of Sinclair Technologies Inc. (“STI”), a wholly owned
subsidiary of Sinclair Technologies Holdings Inc. (“STHI”), were
transferred to STHI. STHI was a wholly owned subsidiary of Norsat.
Immediately following the reorganization, all of the assets and
liabilities of STHI were transferred to Norsat. As of June 29, 2012, STI
and STHI were dissolved under the Business Corporation Act (Ontario) and
hence, ceased to exist as legal entities. “Sinclair Technologies”
continues to operate as a division of Norsat.

Net earnings for the nine months ended September 30, 2012 increased to
$4.3 million, from $0.6 million last year. Earnings per share increased
to $0.07 per share, basic and diluted, from $0.01 per share, basic and
diluted, during the same period last year.

Financial Position

Norsat ended the third quarter of 2012 with cash and cash equivalents of
$4.4 million, compared to $4.2 million as at December 31, 2011. In
connection with its acquisition of Sinclair in January 2011, the Company
secured and was funded a non-revolving acquisition loan of $12.0
million. As of November 6, 2012, the loan balance had been paid down to
$7.7 million and Norsat was in compliance with its bank covenants.

The Company also has access to undrawn credit facilities totaling $4.7
million as at September 30, and November 7, 2012.

As at September 30, 2012, working capital1 was at $6.5
million, compared to $5.1 million at December 31, 2011. The current ratio2
as at September 30, 2012 was 1.4 times compared to 1.3 times as at
December 31, 2011.

Outlook

Looking forward, demand for Sinclair RF antenna and filter products is
expected to remain robust and the Company will continue to invest in new
products for this segment. Demand for Microwave Products is also
expected to continue to benefit from Norsat’s proven ability to provide
modified or custom solutions specific to its customers’ applications.

In the satellite industry, US military spending is projected to remain
slow in the near term, resulting in reduced demand. We have noted
competition in the satellite industry has intensified as more companies
focus on the satellite terminal and related services markets. Given
these anticipated pressures, Norsat will continue to work to diversify
its customer and product base, with a focus on militaries beyond the US,
as well as the commercial, resource, transportation and public safety
segments. As the segment diversifies beyond its traditional military
focus, revenues would be expected to increase, however gross margins
would be somewhat lower.

Norsat’s management remains focused on implementing a business model
that will serve to (i) add a recurring revenue stream by offering a
range of services, (ii) broaden the portfolio of products and services,
(iii) actively recruit and cultivate reseller channel partners, and (iv)
diversify its base of customers to include non-defense customers.

Currently, Norsat is working to execute a balanced growth strategy that
incorporates investment in staffing levels, new product introductions,
and continued enhancement of existing product lines, as well as greater
diversification by geographic region and by industry vertical, and a
broadening of the solutions it provides to customers. We are also
continually evaluating strategic opportunities that will improve our
overall operating and financial performance.

While Norsat will maintain its strict focus on preserving a sustainable
cost structure, it anticipates higher costs of production and higher
operating costs as investments are made to pursue its strategic
objectives. The Company is cognizant of the extent of the current credit
crisis and will remain vigilant in its credit granting practices;
however, it believes its exposure to bad debt is relatively low overall.
Most of Norsat’s trade accounts receivables are generated from various
military and large commercial customers, which are not believed to be at
risk of default. Additionally, the balance of amounts owing is spread
over a diverse range of customers.

Finally, Norsat will actively pursue merger and acquisition
opportunities. The current recessionary trends, coupled with the
Company’s strong financial position and capital structure, have created
excellent conditions for realizing growth through business combinations.
However, Norsat will not undertake any transaction unless it meets
strict criteria to provide strong value, further the Company’s strategic
objectives and have the potential to be accretive to shareholders.

A full set of financial statements and Management’s Discussion and
Analysis for Norsat is available at www.norsat.com
and will be available at www.sedar.com.

Norsat International Inc.

Condensed Interim Consolidated Statements of Financial Position

(Expressed in US Dollars - Unaudited)

September 30, 2012

December 31, 2011

ASSETS

Current assets

Cash and cash equivalents

$

4,408,841

$

4,192,875

Short term investments

-

67,711

Trade and other receivables

7,811,590

7,935,863

Contract work in progress

-

300,985

Inventories

8,903,175

10,173,019

Prepaid expenses and other

595,243

670,371

Current assets

21,718,849

23,340,824

Property and equipment, net

1,140,541

1,128,098

Intangible assets, net

8,759,762

9,287,868

Goodwill

5,439,733

5,277,620

Long-term prepaid expenses and other

46,904

29,844

Deferred income tax assets

4,193,668

1,197,165

19,580,608

16,920,595

Total assets

$

41,299,457

$

40,261,419

LIABILITIES

Current liabilities

Trade and other payables

$

3,940,152

$

5,802,370

Accrued liabilities

1,606,411

1,319,780

Provisions

249,372

186,716

Promissory note payable

661,997

-

Taxes payable

757,406

620,461

Deferred revenue

243,332

642,183

Current liabilities before acquisition loan

7,458,670

8,571,510

Acquisition loan

7,738,373

9,650,286

Current liabilities

15,197,043

18,221,796

Long-term deferred revenue

53,315

141,685

Deferred income tax liabilities

2,466,925

2,622,814

Promissory note payable

-

597,226

Total liabilities

17,717,283

21,583,521

SHAREHOLDERS' EQUITY

Issued capital

39,850,648

39,850,648

Treasury shares

(131,474)

-

Contributed surplus

3,981,567

3,812,151

Accumulated other comprehensive income

532,487

(70,746)

Deficit

(20,651,054)

(24,914,155)

Total shareholders' equity

23,582,174

18,677,898

Total liabilities and shareholders' equity

$

41,299,457

$

40,261,419

Norsat International Inc.

Condensed Interim Consolidated Statements of Earnings and
Comprehensive Income

(Expressed in US Dollars - Unaudited)

Three months ended September 30,

Nine months ended September 30,

2012

2011

2012

2011

Revenue

$

10,997,204

$

11,298,033

$

31,831,139

$

28,322,897

Cost of sales

6,437,329

6,267,545

18,286,937

16,006,284

Gross profit

4,559,875

5,030,488

13,544,202

12,316,613

Expenses:

Selling and distributing expenses

1,965,095

1,397,820

5,681,417

4,243,004

General and administrative expenses

992,763

1,687,876

3,761,493

4,907,560

Product development expenses, gross

739,297

768,750

2,512,421

2,211,077

Less: Government contributions

(450,517)

(231,855)

(912,773)

(805,690)

3,246,638

3,622,591

11,042,558

10,555,951

Earnings before other expenses

1,313,237

1,407,897

2,501,644

1,760,662

Loss on disposal of property and equipment

-

-

15,016

-

Interest and bank charges

162,924

176,122

439,971

470,124

(Gain)/ loss on foreign exchange

414,251

(552,503)

359,623

(564,859)

Earnings before income taxes

736,062

1,784,278

1,687,034

1,855,397

Current income tax expense

54,341

426,458

710,453

959,390

Deferred income tax expense (recovery)

(140,147)

148,409

(3,205,830)

162,551

Net earnings for the period from continuing operations

821,868

1,209,411

4,182,411

733,456

Net earnings (loss) for the period from discontinued operations

152,984

(106,460)

80,690

(102,152)

Net earnings for the period

$

974,852

$

1,102,951

$

4,263,101

$

631,304

Other comprehensive income

Exchange differences on translation of operations in currencies
other than US Dollars

(668,365)

(1,319,870)

(603,233)

(934,831)

Total comprehensive income (loss) for the period

$

306,487

$

(216,919)

$

3,659,868

$

(303,527)

Net earnings (loss) per share

Basic earnings (loss) per share

Earnings from continuing operations

$

0.01

$

0.02

$

0.07

$

0.01

Earnings (loss) from discontinued operations

$

0.00

$

(0.00)

$

0.00

$

(0.00)

Total

$

0.02

$

0.02

$

0.07

$

0.01

Diluted earnings (loss) per share

Earnings from continuing operations

$

0.01

$

0.02

$

0.07

$

0.01

Earnings (loss) from discontinued operations

$

0.00

$

(0.00)

$

0.00

$

(0.00)

Total

$

0.02

$

0.02

$

0.07

$

0.01

Weighted average number of shares outstanding

Basic

58,036,732

58,350,902

58,182,759

57,954,304

Diluted

58,038,685

58,379,732

58,185,435

58,034,776

Norsat International Inc.

Condensed Interim Consolidated Statements of Cash Flows

(Expressed in US Dollars - Unaudited)

Three months ended September 30,

Nine months ended September 30,

2012

2011

2012

2011

Cash and cash equivalents provided by (used in)

Operating activities:

Net earnings for the period

$

974,852

$

1,102,951

$

4,263,101

$

631,304

Income taxes paid

(725)

(63,290)

(679,481)

(795,546)

Non-cash adjustments to reconcile net earnings to net cash flows:

Amortization

372,822

393,087

1,118,318

1,097,183

Foreign exchange (gain) loss

497,928

(153,814)

457,017

(8,305)

Loan acquisition costs amortization

6,623

7,065

20,058

17,138

Loss on disposal of property and equipment

-

-

15,016

-

Gain on sale of subsidiary

(93,986)

-

(93,986)

-

Current income tax

54,342

426,458

710,454

959,390

Deferred income tax (recovery) expense

(140,147)

148,409

(3,205,830)

162,551

Share-based payments

66,577

52,298

169,416

66,123

Accretion of promissory notes

29,734

25,656

64,771

67,465

Government contribution

(456,100)

(187,565)

(951,147)

(761,400)

Changes in non-cash working capital

89,601

(1,391,020)

(224,630)

432,445

Net cash flows provided by operating activities

1,401,521

360,235

1,663,077

1,868,348

Investing activities:

Purchase of intangible assets, property and equipment

(103,952)

(26,613)

(481,817)

(190,154)

Proceeds from government contributions

for acquisition of property and equipment

-

-

260,214

-

Proceeds from sale of property and equipment

-

-

42,390

-

Redemption of short-term investment

-

-

67,918

-

Proceeds from sale of subsidiary

24,641

-

24,641

-

Acquisition of subsidiary, net of cash acquired

-

-

-

(15,235,954)

Net cash flows used in investing activities

(79,311)

(26,613)

(86,654)

(15,426,108)

Financing activities:

Repurchase of common shares and related fees

-

(27,916)

-

(27,916)

Proceeds from interest bearing borrowings

-

-

-

11,892,959

Proceeds from shares issued under ESOP,

net of share issuance costs

-

-

-

348,792

Proceeds from exercising warrants and options

-

-

-

32,559

Proceeds from government contributions

19,609

262,624

727,459

1,127,888

Purchase of treasury shares

-

-

(131,474)

-

Repayment of interest bearing borrowings

(750,000)

(600,000)

(2,050,000)

(1,600,000)

Net cash flows provided by (used in) financing activities

(730,391)

(365,292)

(1,454,015)

11,774,282

Effect of foreign currency translation on

cash and cash equivalents

73,151

(192,385)

93,558

(178,323)

Increase (decrease) in cash and cash equivalents

664,970

(224,055)

215,966

(1,961,801)

Cash and cash equivalents, beginning of period

3,743,871

4,577,297

4,192,875

6,315,043

Cash and cash equivalents, end of period

$

4,408,841

$

4,353,242

$

4,408,841

$

4,353,242

About Norsat International Inc.

Founded in 1977, Norsat International Inc. is a leading provider of
innovative communication solutions that enable the transmission of data,
audio and video for challenging applications and environments. Norsat's
products and services include leading-edge product design and
development, production, distribution and infield support and service of
portable ground station satellite terminals, antennas, Radio Frequency
(RF) conditioning products, microwave components, maritime based
satellite terminals and remote network connectivity solutions.
Additionally, through its Norsat Power Solutions segment, Norsat is a
provider of power conversion and energy storage solutions for the
communications, transportation and resource sectors. More information is
available at www.norsat.com,
via email at [email protected]
or by phone at 1-604-821-2808.

Forward Looking

The discussion and analysis of this news release contains
forward-looking statements concerning anticipated developments in
Norsat’s operations in future periods, the adequacy of its financial
resources and other events or conditions that may occur in the future.
Forward-looking statements are frequently, but not always, identified by
words such as “expects,” “anticipates,” “believes,” “intends,”
“estimates,”, “predicts,” “potential,” “targeted,” “plans,” “possible”
and similar expressions, or statements that events, conditions or
results “will,” “may,” “could” or “should” occur or be achieved. These
forward-looking statements include, without limitation, statements about
Norsat’s market opportunities, strategies, competition, expected
activities and expenditures as it pursues its business plan, the
adequacy of available cash resources and other statements about future
events or results. Forward-looking statements are statements about the
future and are inherently uncertain, and actual achievements of the
Company or other future events or conditions may differ materially from
those reflected in the forward-looking statements due to a variety of
risks, uncertainties and other factors, such as business and economic
risks and uncertainties. The forward-looking statements are based on the
beliefs, expectations and opinions of management on the date the
statements are made. Consequently, all forward-looking statements made
in this news release are qualified by this cautionary statement and
there can be no assurance that actual results or anticipated
developments will be realized. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements.
These forward-looking statements are made as of the date of this news
release and Norsat assumes no obligation to update or revise them to
reflect new events or circumstances, other than as required by law.

1 Working Capital is calculated by subtracting current
liabilities from current assets and is a non-IFRS measure. See Section
4.1 – “Non-IFRS Measurements” of our Management’s Discussion & Analysis.

2 Current ratio is defined as current assets divided by
current liabilities and is a non-IFRS measure. See section 4.1 –
“Non-IFRS Measurements” of our Management’s Discussion & Analysis.

An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen.
In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...

IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...

Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation.
In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...

The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location.
With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...

In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...

The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...

You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time.
In his session at 19th Cloud Expo, Mark Allen, General Manager of...

Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...

As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...

"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.

Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases.
In his general session at @ThingsExpo, Dave McCarthy, Director of Products...

"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.

The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT.
In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...

Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...

Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself.
Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...

WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.

"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.

20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.

In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...

DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
In this power panel at @...

The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location.
With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!

When was the last time you’ve ever heard anyone say “IT Applications & Operations”? Frankly, in my 30+ year career in IT, I don’t believe I’ve ever heard anyone use this term. The typical term we hear is IT Infrastructure & Operations. These two go together like Peanut Butter and Jelly, which tells us a lot about how we view the field of IT. For those that may not be familiar with the role of IT Operations, Joe Hertvik does a great job here of describing IT Operations Management as someone engaged in the role of providing this service to the business. As you can see it’s very interesting how ...

We've come across a lot of talk about "cloud-native" apps lately. (They even have their own foundation!) Developers build these apps specifically to run on a cloud-based infrastructure, with the kind of user interface we all expect from our apps now. Cloud-native applications are scalable, usable and flexible, usually packaged using containers.
It's a step further in the cloud computing journey, and a step away from the way we used to conceive of apps. Application development happened for many years inside an IT bubble, with a long development and deployment lifecycle. They were used only i...

Information self-service is undoubtedly one of the main drivers of Modern Data Management. From “data services marketplaces” to “self-service Big Data analytics,” one of the objectives of most data-related initiatives today is to provide business professionals with new ways to solve their information needs with the goals of achieving self-reliance and minimizing the IT bottleneck. However, is it realistic to expect business users to assume this job?
Studies [1] report that more than 60 percent of companies grade their experience with self-service initiatives as “average” or lower, with nearl...

The IoT continued its toddler-like growth and stumbles in 2016. Here are five trends to look for in 2017 as the IoT enters its adolescence and how to benefit from them.
1. Ecosystems begin to determine winners and losers
Previously these were nice in-the-future concerns; now they will really count. Filling out a whole product value proposition through partnerships has repeatedly proven its importance across B2B and enterprise software sectors. In the IoT, they will be even more critical.

The time of year when crystal balls get a viewing and many pundits put out their annual predictions for the coming year. Rather than thinking up my own, I figured I’d regurgitate what many others are expecting to happen.
8 Predictions About How the Security Industry Will Fare in 2017 – An eWeek slideshow looking at areas like IoT, ransomware, automated attacks and the security skills shortage in the industry. Chris Preimesberger (@editingwhiz), who does a monthly #eweekchat on twitter, covers many of the worries facing organizations.

Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair
The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY.
"DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at @DevOpsSummit and Cloud Expo tell the world how they can leverage this emerging disruptive tr...

I recently recovered from ACDF surgery where they remove a herniated or degenerative disc in the neck and fuse the cervical bones above and below the disk. My body had a huge vulnerability where one good shove or fender bender could have ruptured my spinal cord. I had some items removed and added some hardware and now my risk of injury is greatly reduced.
Breaches are occurring at a record pace, botnets are consuming IoT devices and bandwidth, and the cloud is becoming a de-facto standard for many companies. Vulnerabilities are often found at the intersection of all three of these trends, so ...

In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management...

Okay, let me get this out there: I find the term “Citizen Data Scientist” confusing. Gartner defines a “citizen data scientist as “a person who creates or generates models that leverage predictive or prescriptive analytics but whose primary job function is outside of the field of statistics and analytics.” While we teach business users to “think like a data scientist” in their ability to identify those variables and metrics that might be better predictors of performance, I do not expect that the business stakeholders are going to be able to create and generate analytic models. I do not believe...

Nerdio is an IT-as-a-service platform with virtual desktop infrastructure (VDI) technology at its core. It is designed for IT departments that need a way to easily manage their ever-increasing workloads. Nerdio allows users to efficiently manage their complete IT environments by giving them full visibility and control of users’ desktops. In addition to virtual desktops, the platform includes unlimited virtual servers, Microsoft Office 365 security, and disaster recovery and 24/7/365 support.

Reality itself is going through a digital transformation thanks to leaps in 3D rendering and the crunch-speed motion feedback data. Although the modern definition of virtual reality (VR) has been making promises for three decades, the emphasis was always on the potential. Now it’s here. This is a tour of the state of VR in 2016 and where developers are taking it as VR spreads far beyond the world of gaming.

We have been seeing a sudden rise in the deployment of Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning (DL). It looks like the long “AI winter” is finally over. It is interesting to note that AI was mentioned by Alan Turing in a paper he wrote back in 1950 to suggest that there is possibility to build machines with true intelligence. Then in 1956, John McCarthy organized a conference at Dartmounth and coined the phrase Artificial Intelligence. Much of the next three decades did not see much activity and hence the phrase “AI Winter” was coined. Around 1997, IBM’s Deep Blu...

Cyberattacks are relentless. The pace of attacks shows no sign of slowing, and organizations understand that 100 percent prevention of attacks is not possible. Traditional prevention and detection techniques are falling short, and security professionals are scrambling for new paradigms that can more effectively detect attacks and mitigate the growing levels of damage. In this climate of confusion, deception-based solutions offer a viable and proven way to stop attackers in their tracks. Why? Because instead of sitting back and waiting to be the victim, detection technologies let organizations ...

My daughter called with a frantic message. She was driving my car (why she was driving my car when she has her own is the subject for another time) and a warning message appeared on the car console: “Engine overheated! Stop engine and allow to cool down” (see Figure 1).
Fortunately, my daughter was nearly home, so she got the car home, shut it down and called me immediately (I was on the road somewhere…Washington DC, Philadelphia, Knoxville, Chicago, Toronto…I don’t even remember where anymore). I called my trusty mechanic (Chuck) and he was able to work my car into the schedule when I got ba...

Cloud computing budgets worldwide are reaching into the hundreds of billions of dollars, and no organization can survive long without some sort of cloud migration strategy. Each month brings new announcements, use cases, and success stories.